Data collection methods in marketing research help organizations to collect vital information to help in decision-making. Literature sources include books, company reports, and online published papers and articles. These form sources of secondary data collection methods in marketing research. Researchers can also conduct surveys, for example, by using questionnaires to gather data. The results of this method of data collection are usually easy to analyze. Another way of obtaining marketing research data is through interviews. They involve intensive engagement with respondents about a particular study. Some researchers use the observation method of information gathering in a specific situation or environment at a given time to achieve the desired importance of data collection in marketing.
methods of data collection in marketing research
IMPORTANCE OF DATA COLLECTION IN MARKETING RESEARCH
The paramount importance of data collection in marketing is to help make crucial decisions about marketing operations. One critical component of data collection is ensuring the quality of the data collected. Data quality refers to how much the data represents a real situation. Marketing research data should, therefore, be highly accurate and reliable. The data should also measure or represent what it is supposed to measure to represent the degree of its validity. Whenever the data falls short of these qualities, there arises a need to collect additional data. Depending on the type of data required, one may use any data collection method that produces the best results.
importance of data collection in marketing research
METHODS OF DATA COLLECTION AND TYPES OF DATA NEEDED FOR MARKET RESEARCH
Marketing research data can either be primary or secondary. Primary data sources include questionnaires, observations, and surveys. Primary data helps to specifically answer the research objectives. However, the primary data collection method is more expensive compared to secondary research. Primary research may also consume more time. This is where researchers require to obtain extensive information from existing reports, documents, and published statistics. Sources may include company records, government websites, journals, and even newspaper publications. Most small- and medium-sized companies realize the importance of data collection through secondary research. Larger companies will invest more in primary research because their risk exposure is usually higher.
